US History timeline & concept chart: 16th-18th centuries (to 1754) British-American colonies: Difference between revisions

US History timeline & concept chart: 16th-18th centuries (to 1754) British-American colonies (view source)

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 * European political and economic policy of forcing colonial possessions to trade directly with the home country and not others
 * the policy goal of Mercantilism was protection of home country economic interests and stakeholders, and not simply for revenue.
-** the purpose of revenue was introduced in tbe 1760s with the Sugar Act, which reduced the tax with the goal if maximizing revenue while allowing foreign competition
+** as well as maintenence of inflows of silver and gold to support the national currency
-** this system of taxation is called the  "imperial system"
+** the purpose of revenue was introduced in the 1760s with the Sugar Act, which reduced the tax with the goal if maximizing revenue while allowing foreign competition
-* Navigation Act of 16511760s
+** this new system of taxation is called the "imperial system"
+* Navigation Act of 1651
+** called "An Act for increase of Shipping, and Encouragement of the Navigation of this Nation"
+** was in response to English deterioration in trade following the 80 Years War (between Spain and  Netherlands), which had resulted in Dutch maritime power (the Dutch Golden Age)
 ** enacted under the Commonwealth (Parliamentarian control of England under Oliver Cromwell)
 ** required that all trade to/from colonies had to be conducted on English ships